A closely followed crypto strategist believes that one red-hot altcoin in the Bitcoin (BTC) ecosystem is primed for another big move up. Pseudonymous analyst Altcoin Sherpa tells his 202,400 followers on the social media platform X that he remains bullish on Ordinals (ORDI), a project that aims to add value to each Satoshi, the smallest […]
The post Bitcoin Ordinals Token That’s Skyrocketed Over 22x in Three Months ‘Gearing for Another Leg’ Up, Says Trader appeared first on The Daily Hodl.
The chief executive of crypto exchange OKX says that he’s being encouraged to list more Bitcoin (BTC) ordinals as the total market cap of BRC-20 tokens jumps 30% in one day. In a lengthy thread, OKX CEO Jay Hao tells his 65.500 followers on the social media platform X that while he’s being urged to […]
The post OKX CEO Says He’s Being Urged To List More Bitcoin Ordinals As BRC-20 Total Market Cap Soars 30% in a Day appeared first on The Daily Hodl.
Billionaire Tim Draper is updating his outlook on Bitcoin (BTC), saying that the mass consolidation of crypto tech is coming to the flagship digital asset. In a new interview with Coin Bureau, the venture capitalist likens BTC to Microsoft, saying that it will serve as the main platform for developers within the industry to launch […]
The post Billionaire Tim Draper Reveals BTC Forecast, Says Mass Consolidation of Crypto Tech Coming to Bitcoin appeared first on The Daily Hodl.
Some suggest EVM inscriptions are the latest way for retail to access low-cap coins, while others argue it’s an over-hyped fad. Whatever it is, it’s clogging up the blockchain.
The latest degen “gold rush" to inscribe everything from profile pictures to memecoins has led to at least half a dozen blockchain networks cracking under pressure over the past week.
The last few days have seen Arbirtrum, Avalanche, Cronos, zkSync, and TON all suffering partial or full outages recently due to inscriptions, with modular data availability network Celestia the latest to succumb, according to industry researchers who posted a screenshot of its block explorer on Dec. 18.
Videos have also been posted of mass minting on the Celestia network.
Bitcoin is not the only network getting clogged up with Ordinals inscriptions, with weekend activity on EVM chains also spiking.
Network transaction fees across all blockchains have spiked over the weekend as the Ordinals inscriptions craze continues to push demand for blockspace — not just on the Bitcoin network.
Inscriptions on Ethereum Virtual Machine (EVM) chains skyrocketed over the weekend, causing a spike in gas spent on them.
On Dec. 16, gas spent on inscriptions surged to a record high of $8.3 million, according to data from Dune Analytics.
Bitcoin miners are the main beneficiaries of current sky-high transaction fees, data shows, but many longtime market participants have little time for complaints.
Bitcoin (BTC) on-chain transaction fees are dividing opinion as the cost of sending BTC skyrockets.
Data from statistics resource BitInfoCharts puts the average transaction fee at nearly $40 as of Dec. 17.
The latest wave of Bitcoin ordinal inscriptions have resulted in a fresh wave of elevated transaction fees for all network users — but some believe that they are here to stay.
One Ethereum (ETH)-based gaming altcoin soared as a crypto whale suddenly moved a massive amount of the project’s tokens off an exchange, on-chain data shows. As reported by blockchain tracking firm Lookonchain, layer-2 scaling solution ImmutableX (IMX) shot up 20% as a crypto whale made big moves. “The price of IMX increased by 20% today. […]
The post Ethereum Gaming Altcoin Rallies As Massive Whale Withdraws From Binance: On-Chain Data appeared first on The Daily Hodl.
A widely followed crypto analyst is detailing his outlook on three altcoins, one of which he says could skyrocket in the coming months. Pseudonymous crypto strategist Altcoin Sherpa tells his 200,600 followers on the social media platform X that Ordinals (ORDI), a token focused on Bitcoin’s (BTC) ordinals protocol, appears primed to surge to the […]
The post Analyst Shares Setups on Ordinals (ORDI), Stacks (STX) and One Altcoin That Could Go ‘Much Higher’ in Coming Months appeared first on The Daily Hodl.
A Bitcoin Core developer claimed Bitcoin Ordinals exploit a vulnerability allowing inscribers to bypass data size limits, which could soon be fixed.
A bug fix on the Bitcoin network could put a stop to new Bitcoin Ordinals and BRC-20 tokens as they’re causing network congestion by “exploiting a vulnerability,” claims a Bitcoin Core developer.
In a Dec. 6 X (Twitter) post, developer Luke Dashjr said inscriptions — used by Ordinals and BRC-20 creators to embed data on satoshi’s — exploit a Bitcoin Core vulnerability to “spam the blockchain.”
He explained the Bitcoin Core code has allowed users to set limits on the size of extra data in transactions since 2013, but “by obfuscating their data as program code, inscriptions bypass this limit.”
PSA: “Inscriptions” are exploiting a vulnerability in #Bitcoin Core to spam the blockchain.
— Luke Dashjr (@LukeDashjr) December 6, 2023
The bug allowing inscriptions to bypass this limit was recently fixed in the latest update to Bitcoin Knots, a Bitcoin Core derivative with less tested or untested features backported from and sometimes maintained outside of the core code.
Another X user asked if Ordinals and BRC-20 tokens “would stop being a thing” if the vulnerability was fixed to which Dashjr replied, “Correct.” Existing inscriptions would still remain.
"Bitcoin Core is still vulnerable in the upcoming v26 release," he said.
On Dec.
We are happy to announce testing of Bitcoin Knots v25.1 has completed successfully, and is now deployed to production.
It adds to a prior agreement in which Riot bought 33,280 miners from MicroBT. The term sheet was also updated, allowing Riot to buy another 265,000 miners in the future.
Bitcoin miner Riot Platforms is buying 66,560 Bitcoin mining rigs from manufacturer MicroBT, in one of its largest orders of hash-rate in the firm’s history — ahead of the Bitcoin halving scheduled for April 2024.
The additional purchase agreement totaled $290.5 million, Riot stated in a Dec.
$Riot Exercises Purchase Option on 18 EH/s of Latest Generation Immersion Miners from MicroBT, and Secures Additional Purchase Options Providing a Path to Exceed 100 EH/s.
(@RiotPlatforms) December 4, 2023
- Riot places order for 18 EH/s of latest generation MicroBT Bitcoin miners, primarily consisting of the… pic.twitter.com/tEEudV6Z8n
The right-to-purchase option was included in Riot’s initial agreement with MicroBT when it agreed to buy 33,280 machines from MicroBT in June.
Riot’s CEO Jason Les said the purchase order is “the largest order of hash rate” in the company’s history and hopes the updated agreement will enable Riot’s mining performance to strengthen further.
Over 48,000 or 72% of the new machines will be MicroBT’s latest model, the M66S, which has a hash rate of 250 terahashes per second (TH/s), while the remaining machines will consist of the M66 (14,770) and M56S++ (3,720) models, Riot noted.
Altogether, the 66,560 miners will add 18 exahashes per second (EH/s) to Riot’s operations.
